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My guest today is Anthony Scaramucci, Founder & Managing Partner of SkyBridge, a global alternative investment fund with several billion dollars in assets under management. Anthony also founded SALT, one of the premier thought leadership conferences in finance, technology and geopolitics.
In this episode, we discuss:
Navigating a market downturn. This is Anthony’s ninth bear market – what is different this time and how should fund managers approach their relationship with investors?
“The secret to outperforming and the secret to making things successful, is having long-term discipline and staying in the discipline… Everybody's a long-term investor, until they have short-term losses.”
Inflation, inflation, inflation. How to deal with it and what to expect, particularly when it comes to alternative assets.
“I'm of the opinion, and I could be wrong, that we are now in the process of healing… I think we could be here six or 12 months from today and see those inflation numbers better and calmer… But again, Miguel, I've been humbled by life. I've been humbled by markets. I've been humbled by the press... I may be wrong about this, but if I'm right, the equity markets are fairly valued and, I think, the crypto markets are ridiculously undervalued.”
Anthony’s strong conviction in crypto and why he’s doubling down on the sector and even launching a fintech-focused venture capital fund.
“I bought [bitcoin] at $18k and I think it could be worth $150k over the next five years. And I like my odds on that, because I'm looking at the growth of the Lightning Network and the exponential growth of the wallets. I'm looking at the regulation in the UK, Europe, and Canada progressing faster than the US, and, I think, eventually the US will embrace it. And as a result I think this stuff is very undervalued.”
His relationship with the press and some of the consequences of being a high-profile guy.
That's me, sinking in the S.S. Mooch, and there's probably $25 million worth of bitcoin in there. I wish I had $25 million bitcoin. But the point being, according to the NY Post, that's me going down… When the fund was up 61%, it would have been great if someone wrote an article, but they wait for something bad to happen."
The origins of the SALT Conference, main drivers fueling his energy and ambition, family… and a whole lot more!
“It was March of 1972. I was eight years old. And my grandmother and mother were celebrating. Why? Well, a GE washer and dryer were being delivered to our house. And I didn't realize it. But that was a very big deal… to go from a family like that to where I am today, I am very blessed. So I try to look at every day from a position of gratitude.”
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Miguel Armaza is Co-Founder & Managing General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.
Anthony Scaramucci, Founder of SkyBridge & SALT – Riding his 9th Bear Market, Investing Strategies, & The Bright Future of Crypto